OLP vs VNQ: Correlation
One Liberty Properties, Inc. (OLP) and Vanguard Real Estate ETF (VNQ) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OLP and VNQ?
Over the past 3 years, OLP and VNQ moved with a correlation of 0.72, which is strong. Little has changed lately, as the 1-year reading of 0.75 lands near the 3-year figure. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 255.3 %².
In OLP's tracked universe of 28 assets, VNQ sits right near the top at #3. Neither side won the trailing year by much: +13.0% against +10.3%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
OLP vs VNQ: side by side
| OLP (One Liberty Properties, Inc.) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | +13.0% | +10.3% |
| 5-year return | +11.9% | +9.5% |
| Volatility (ann.) | 21.5% | 16.6% |
| Beta vs S&P 500 | 0.49 | 0.59 |
| Max drawdown (3Y) | -28.8% | -17.5% |
| Market cap | $0.5B | – |
| P/E (trailing) | 15.3 | – |
| Dividend yield | 7.44% | 3.51% |
| Expense ratio | – | 0.13% |
| Assets under management | – | $73.1B |
| Sector / category | US Listed | ETF · Real Estate |
VNQ is a Real Estate fund from Vanguard: $73.1B under management, 140 holdings, a 0.13% expense ratio, a 3.51% trailing dividend yield.
Year-by-year returns
| Year | OLP | VNQ |
|---|---|---|
| 2022 | -32.3% | -26.3% |
| 2023 | +7.6% | +11.9% |
| 2024 | +33.5% | +4.8% |
| 2025 | -19.6% | +3.2% |
| 2026 | +23.7% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OLP and VNQ good diversifiers for each other?
Only partially. A correlation of 0.72 means OLP and VNQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between OLP and VNQ?
The OLP/VNQ correlation stands at 0.72 on a 3-year window (1 year: 0.75, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is VNQ a good diversifier for OLP?
Only partially. A correlation of 0.72 means OLP and VNQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/olp-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/olp-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OLP correlations · VNQ correlations
